Gibraltar Capital Management Inc. Acquires 141 Shares of ONEOK, Inc. (NYSE:OKE)

Gibraltar Capital Management Inc. raised its holdings in shares of ONEOK, Inc. (NYSE:OKE) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,853 shares of the utilities provider’s stock after purchasing an additional 141 shares during the quarter. Gibraltar Capital Management Inc.’s holdings in ONEOK were worth $487,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Arkadios Wealth Advisors grew its position in shares of ONEOK by 18.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,315 shares of the utilities provider’s stock worth $302,000 after buying an additional 525 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of ONEOK by 6.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 67,866 shares of the utilities provider’s stock valued at $6,184,000 after purchasing an additional 4,380 shares in the last quarter. First Financial Bankshares Inc bought a new position in shares of ONEOK during the third quarter valued at approximately $200,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of ONEOK by 3.2% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,974 shares of the utilities provider’s stock valued at $544,000 after purchasing an additional 186 shares in the last quarter. Finally, abrdn plc increased its holdings in ONEOK by 14.8% during the third quarter. abrdn plc now owns 2,149,676 shares of the utilities provider’s stock valued at $195,545,000 after buying an additional 277,514 shares during the period. 69.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wolfe Research raised ONEOK from a “peer perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Monday, February 10th. Barclays initiated coverage on ONEOK in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $105.00 target price on the stock. Scotiabank started coverage on shares of ONEOK in a research report on Friday, January 10th. They set a “sector outperform” rating and a $109.00 price target for the company. Wells Fargo & Company downgraded shares of ONEOK from an “overweight” rating to an “equal weight” rating and set a $107.00 price objective on the stock. in a research report on Wednesday, December 18th. Finally, Mizuho raised shares of ONEOK to a “hold” rating in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ONEOK has a consensus rating of “Moderate Buy” and a consensus target price of $103.92.

ONEOK Stock Down 2.5 %

OKE opened at $95.66 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.81 and a debt-to-equity ratio of 1.59. ONEOK, Inc. has a twelve month low of $72.44 and a twelve month high of $118.07. The company has a market cap of $55.88 billion, a PE ratio of 20.01, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70. The company has a 50-day moving average price of $100.97 and a 200 day moving average price of $99.04.

ONEOK (NYSE:OKE) last announced its quarterly earnings data on Monday, February 24th. The utilities provider reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.11. ONEOK had a net margin of 14.05% and a return on equity of 16.84%. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.18 billion. Sell-side analysts expect that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 3rd were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 dividend on an annualized basis and a yield of 4.31%. This is a positive change from ONEOK’s previous quarterly dividend of $0.99. ONEOK’s payout ratio is 86.19%.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.